Question

Discuss the FIVE (5) key aspects that should be given importance by the business organizations including the Small and Medium Enterprises in managing and implementing computerized accounting system within the present dynamic and competitive environment.

Good marks will be awarded based on the relevant answers and examples provided where necessary into your discussion. In addition, your discussion should include the following:

• Appropriate citations and adequate scholarly research.
• Readability including proper organization of answers.
• Cover page (image form), mark sheet (image form), table of content (image form) proper heading/title for each part answered, list of references

Answer 1

Five key aspects that should be given importance by the business when it is implementing computerized accounting system within present dynamic and competitive environment are as follows-

A. Incorrect information- Book keeping can be as good as data entered into the system by the individuals and if the data is manipulated, then it can lead to incorrect management of informations by the individuals .There should be proper management of efficiency of the informations in the computerized system.

B. Technical issues- there are large number of technical issues which are constantly observed in computerized accounting system related to lagging and other issues and they should be proactively managed by keeping backup.

C. Manipulation of programs- programs which are managed in the computerized environment are prone to manipulations and they are subjected to abuse by various authoritative persons so that should be proper check through maintenance of servers.

D. Theft of consumer time - It is another factor which can be visible because there are various informations about one consumers which can be cloned and used by other persons for abusive purposes so they need to be proactively checked into.

E. Password should be proactively managed and password should also be properly managed and only authorised person should be given password. it should be properly checked to ensure, there should not be any abusing of authority.